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Australian sportsbook operator BlueBet said it’s withdrawing from the US market to focus on its sports betting business in its home country. An image from a BlueBet commercial. The company announced it’s leaving the US sports betting market. (Image: YouTube) The gaming company made the decision as part of its strategic review of its US operations, and it arrived about two months after BlueBet announced plans to leave Indiana. At that time, the operator indicated it intended to continue doing business in Colorado, Iowa, and Louisiana, but it also told investors the strategic review was ongoing. By leaving the US, BlueBet can better focus on its Australian business, which is …

Rush Street Interactive announced the launch of its new rewards platform, iRush Rewards, on Monday. The new program is aimed at making it easier for bettors to earn and redeem points, and to more readily identify what their current status is. A Rush Street Interactive advertisement. The company unveiled a new rewards program on Monday. (Image: X) iRush Rewards is using a tiered rewards template utilized by traditional casino rewards programs. Those tiers are Gold, Platinum, and Black, and each comes with unique perks. This is the first time Rush Street Interactive has implemented tier credits in its rewards plan and, in addition to those credits, bettors will earn loyalty …

On Thursday, the NFL extended its partnership with the National Council on Problem Gambling (NCPG) with a second multimillion-dollar donation. The NFL has extended its funding of the National Council on Problem Gambling with a $6.4 million pledge. The money will be used to strengthen programs designed to minimize problem gambling harms. (Image: Casino.org) The National Football League is contributing $6.4 million to the country’s only national nonprofit dedicated to minimalizing the economic and social costs associated with gambling addiction. The NCPG does not support or oppose the legalization of gambling activities. The NCPG says the NFL’s contribution will be used for three strategic initiatives, including funding the continued rollout …

Sports wagering stocks, including DraftKings (NASDAQ: DKNG), are a relatively young asset class, but youth aside, the group is subject to clear seasonal trends. Those include the start of football season often acting as catalyst. A DraftKings billboard appears at Times Square in New York City. Analysts remain bullish on the stock and view football season as a catalyst. (Image: NASDAQ) Prosaic as that thesis is and it is, it’s also sensible because football is the most wagered on sport in the US. The 2024 football season will be DraftKings’ fifth as a freestanding public company. Over the prior four, the stock’s average gain was 5% from the start of …

Notre Dame’s athletics department on Thursday banned its men’s swimming team for one year for violating NCAA and the school’s sports gambling rules. The University of Notre Dame has suspended its men’s swimming team for a season after an investigation determined that a majority of the team’s swimmers participated in a rogue sports betting pool. Players on the team are free to transfer during the one-year ban. (Image: Shutterstock) An internal investigation led by a private law firm concluded that a majority of the men’s swimmers on the Fighting Irish’s varsity team participated in an illegal betting pool. Investigators determined that the team engaged in wagering amongst themselves, and commonly …

Shares of DraftKings (NASDAQ: DKNG) closed higher by almost 2% Wednesday on volume that was more than double the daily average after the company reversed course on a previously announced plan to tax winning sports bets in four high-tax states. DraftKings stock is highlighted at the Nasdaq market site in New York City. Analysts defended the stock after the company scrapped its surcharge plan. (Image: Nasdaq) In a note to clients, Jefferies analyst David Katz called the operator’s August 1 surcharge announcement a “head fake.” When it delivered second-quarter results on August 1, DraftKings said it planned to roll out a surcharge on winning sports wagers in Illinois, New York, …

DraftKings’ (NASDAQ: DKNG) recently announced surcharge on winning sports bets in four states could generate up to $270 million in added gross gaming revenue, according to an estimate by Eilers & Krejcik Gaming (EKG). Inside DraftKings’ Nevada office. The company’s surcharge plan could be a revenue generator, but it carries risks, says a research firm. (Image: Nevada Independent) The gaming company said last week it will start implementing a small levy on winning sports wagers in Illinois, New York, Pennsylvania, and Vermont in an effort to lower its effective tax rate in those high-tax jurisdictions. The plan is scheduled to go into effect on Jan. 1, 2025. DraftKings told investors …

Kentucky-based Churchill Downs, Inc. is putting the finishing touches on its $460 million gaming resort in Virginia’s Dumfries. In anticipation of its impending opening, Churchill Downs is aggressively marketing the casino to residents in affluent Northern Virginia. An aerial view of The Rose Gaming Resort, a $460 million development from Churchill Downs. The casino, which will offer electronic gaming machines based on previously run horse races, opens in Virginia’s Dumfries in September 2024. (Image: Prince William Times) The Rose Gaming Resort won’t offer traditional casino slot machines or live dealer table games. Instead, the gaming floor will house electronic gaming terminals that calculate winning spins based on previously run horse …

Broadly speaking, it’s been a rough year for gaming equities, including those that came public via reverse mergers with special purpose acquisition companies (SPACs), but Codere Online Luxembourg (NASDAQ: CDRO) stands out. Codere’s sign when it launched on NASDAQ in December 2021. The stock is one of this year’s top performers among de-SPACed gaming names. (Image: Twitter) The Spanish sportsbook operator, which went public on Dec. 1, 2021 following a combination with blank-check firm DD3 Acquisition Corp. II, is up 170% year-to-date. That’s easily the best showing among US-listed gaming stocks that are the product of SPAC deals, a group including DraftKings (NASDAQ: DKNG), Rush Street Interactive (NYSE: RSI), and …

Caesars Entertainment brass revealed during the company’s Tuesday evening call with investors and analysts that it will soon deploy its Horseshoe brand online. Caesars Entertainment will launch its next online casino brand by way of Michigan in September 2024. Company officials said this week the Horseshoe brand is moving to the internet. (Image: Caesars Entertainment) During the second quarter earnings call, Eric Hession, president of sports and online gaming at Caesars, said the company’s acquisition of WynnBet’s online operations in Michigan was completed in June. The acquisition provides Caesars with additional market access for iGaming and online sports betting in the state through a partnership with the Sault Ste. Marie …